Insolvency experts say small businesses are doing it tough, but that wont stop the tax office and government bodies from stepping in to apply for company wind-up orders as the Australian Taxation Office continues its more aggressive pursuit of businesses.
Figures collated from court insolvency records by Prushka Fast Debt Recovery suggest that 46% of wind-up order applications in insolvency cases between November 2016 and June 2017 came from the ATO, while 19% came from other government sources.
According to Prushka Fast Debt Recovery, over the past six months, 616 of the 1,391 companies that were liquidated as a result of a wind-up application came about after action from the tax office, while 289 companies were liquid…
Read the full article at: http://www.smartcompany.com.au/finance/tax/ato-maintains-aggression-on-company-wind-ups-as-big-end-of-town-targeted-with-confessional-style-reporting/